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Equipment acquired at a cost of $71,000 has an estimatedresidual value of $4,000 and an es

Equipment acquired at a cost of $71,000 has an estimatedresidual value of $4,000 and an es

Equipment acquired at a cost of $71,000 has an estimatedresidual value of $4,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31.
Determine the depreciation for the current fiscal year and for the following fiscal year by thestraight-line method.
Determine the depreciation for the current fiscal year and for the following fiscal year by thedouble-declining-balance method.

Tripti 05-Dec-2019

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